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Toronto Chapter of the Licensing Executive Society Luncheon Meeting

DATE:  
Thursday, March 27, 2008   

TIME:
12:15 p.m.

VENUE:       
Gowling Lafleur Henderson LLP        
Suite 1600, 100 King Street West
First Canadian Place 
Toronto ON M5G 1X5

TITLE:
Drafting and Enforcing IP Royalty Audits

SPEAKERS: 
Glenn Tautrims
Director
Global Royalty Audits Inc.

Eric Boehm
Counsel
Torys LLP

By design, oversight, or simple confusion over royalty terms, licensees may not paying the royalties that licensors are due. One LES-published study in 2007 revealed that even as IP is becoming more important and valuable to an organization, licensors report that 80-90% of licensees of IP have underpaid and incorrectly calculated royalties, by an average range of 10% to 25%. To prevent "royalty leakage", more companies are turning to royalty audits of their licensees to recover lost royalties.

Eric Boehm will discuss how clear and well-drafted license and royalty audit contract terms can avoid disputes and uncertainty, and limit royalty leakage.

Glenn Tautrims will speak about the practicalities and procedures for conducting royalty audits, and how royalty audits differs from financial statement audits.

Their talk will include discussions on:

• drafting tips for auditing specific types of intellectual property and markets (information technology, pharma, biotechnology, entertainment and manufacturing)
• what licensees and licensors should know in negotiating license and royalty audit provisions
• how royalty audit clauses can pay dividends without even conducting an audit
• common sources of royalty leakage
• preparing to be audited, and internal compliance programs to avoid being offside royalty agreements

Eric is Counsel at Torys LLP. He has international experience and a focus on technology and outsourcing transactions.

Glenn is a Chartered Accountant (C.A.), a Certified Fraud Examiner (CFE) and is currently a Director in Global Royalty Audits Inc (“GRA”).  Prior to co-founding GRA in 2004, Glenn was a Vice President in a large international accounting firm where he was responsible for implementing and overseeing its Canadian Licensing Management practice.  In addition to assisting clients in streamlining and improving their licensing departments, Glenn has conducted numerous royalty audits globally in various industries. 

COST:
$25.00 for Members. $30.00 for non-Members

Includes a light lunch and is payable at the door.

RSVP:
Please confirm your attendance. We need this information to order food and chairs.

CONTACT:  
Charles Boulakia at Ridout & Maybee LLP
E-mail: cboulakia@ridoutmaybee.com

Any other questions may be directed to Paul Jones, Jones & Co., Co-Chair of the LES Toronto Chapter (pjones@jonesco-law.ca – 416-703-5716)